The summer outlook for small businesses in BC seems rosy.
Canadian Federation of Independent Business Economist, Aaron Aerts says the improved rating puts entrepreneurs in a good spot.
“So were now at a level that we deem very healthy, 67 means that the majority of businesses feel like their businesses are going to strengthen in the coming year so it’s a good sign of what is to come. Small businesses are looking to ramp up production and increase staffing levels.”
Two things are responsible for the recent rise according to Aerts.
“People are looking for jobs in quite a large number. There’s a lot of people looking to fill those roles and small businesses needs. The other thing is a bit of a rebound in Alberta where there is confidence gaines which is obviously always good for BC.”
Aerts adds a major issue on the 2017 BC Election trail may have also played a role in the spike.
“A lot of the talk hasn’t been so much about small business but there has been talk about affordability which is always a huge issue for small businesses as well as residents so maybe that is starting to play into their hopes.”
An index between 65 and 70 means the provincial economy is growing at its potential.
BC is only behind Ontario which has a rating of 68.7.
23% of small business owners in the province plan to increase full-time staff within the next three months.